Lucent Bio Secures Over $3.6M in Funding for Scale-up and Commercialization of Innovative Microplastic-Free Seed Coating Technology

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Nov 07, 2023, 08:53 ET

VANCOUVER, BC, Nov. 7, 2023 /PRNewswire/ -- Lucent Bio, an innovative agricultural technology company, is excited to announce over $3.6 Million will be provided by PacifiCan through the Business Scale-up and Productivity program, earmarked to expedite the development of Nutreos, their innovative seed treatment technology. Nutreos is a biodegradable and micro-plastic free seed coating designed to promote strong germination, vigour, and crop establishment, supporting the transition of traditional agriculture inputs to sustainable alternatives.

Lucent Bio founders announce $3.6M funding with Minister Sajjan and MP Weiler for innovative seed treatment technology.

The secured funding will play a vital role in advancing Nutreos:

Research and Development: This investment allocates resources to enhance the formulation and effectiveness of Nutroes as it transitions from a lab concept to a field-ready product. This investment ensures that Nutreos remains at the forefront of environmentally friendly seed treatment solutions for all producers.

Market Expansion: Lucent Bio will utilize the funding to expand its market presence, making this eco-conscious seed treatment accessible to farmers globally. The expansion efforts aim to empower more farmers with a sustainable and effective method for promoting crop establishment and vitality.

Environmentally Responsible Production: A portion of the funding will be directed towards ensuring Nutreos's production processes align with environmental sustainability standards. From sourcing raw materials to manufacturing, Lucent Bio will uphold eco-friendly practices, contributing to a cleaner agricultural industry.

This announcement follows the grand opening of Lucent Bio's Soileos micronutrient fertilizer plant in Rosetown, Saskatchewan, earlier this month, reaffirming Lucent Bio's mission to help decarbonize agriculture and bring novel, non-polluting, sustainable and climate-positive fertilizers to the market.

"The agritech sector in B.C. is growing and leading the way when it comes to innovation in areas such as food processing and soil/crop technology. PacifiCan is committed to working with innovative agritech businesses that are poised for growth – like Lucent Bio. This funding will support Lucent Bio as they increase their marketing capacity and optimize their manufacturing processes, creating quality jobs and helping propel B.C.'s economy forward."
- The Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan).

"The Business Scale-up and Productivity program is a game-changer for Lucent Bio, enabling us to scale up and commercialize our groundbreaking, environmentally-friendly seed coating products. With the construction of a new manufacturing plant in BC, we're not only creating exciting new jobs in the emerging field of agritech but also taking a significant step towards reducing carbon emissions in agriculture. This initiative will enhance food security and climate resilience, making a lasting positive impact on our community and beyond. We're thrilled to be part of this visionary endeavour that aligns perfectly with our mission to pioneer sustainable agriculture solutions."- Michael Riedijk, CEO and Founder Lucent BioSciences.

For further details on our sustainable agricultural solutions and recent funding news, visit our website or reach out to our media relations team at [email protected]. Join us in advancing environmentally responsible agriculture.

About Lucent Bio

Lucent Bio is a thought leader in the sustainable agriculture industry. Our commitment to pioneering innovation has led to the development of patented solutions that prioritize environmental sustainability and profitability. Our newly patented non-water soluble fertilizers are poised to redefine the future of sustainable agriculture practices. For more information, please visit www.Lucentbio.com.

About PacifiCan
PacifiCan is the federal economic development agency dedicated to British Columbians. PacifiCan works with partners who are building innovative businesses, creating quality jobs, and supporting inclusive growth throughout British Columbia.

For media inquiries, please contact:
Devon Simpson
778-837-1299
[email protected]

SOURCE Lucent BioSciences